- Infosys promoted Jayesh Sanghrajka as Chief Financial Officer (CFO) after Nilanjan Roy resigned.
- Jayesh brings with him 25 years of experience in various finance roles.
- He is set to assume the new responsibilities starting 1st April 2024.
Infosys CFO resigns
Not good news for Infosys!
Nilanjan Roy has resigned from his position as the Indian IT consulting giant’s Chief Financial Officer (CFO).
Having held the CFO role since 2018, he has decided to step down to pursue personal endeavours beyond Infosys.
Nilanjan will continue in his capacity until 31st March 2024, ensuring a seamless transition to his successor, as stated in a company filing.
Infosys has named Jayesh Sanghrajka the new CFO, and he will assume the role starting April 1, 2024.
“I am delighted to announce that Jayesh will take over as Chief Financial Officer.
As Deputy CFO, he has been leading multiple portfolios in the finance function for several years now and his depth of experience and knowledge will serve us well to take the function to greater heights.
I would also like to express my deep appreciation for Nilanjan for ably leading the function over the last five years and wish him the very best in his future endeavours”, Salil Parekh, CEO and MD of Infosys said in an official press release.
Background of the upcoming CFO
Jayesh is a Chartered Accountant and a Cost Accountant of India.
He possesses more than 25 years of experience in a diverse range of finance roles.
Here is a brief look at his career throughout the years.
1997 – He commenced his career with KPMG India
2000 to 2007 – Jayesh joined Infosys Technologies as a General Manager.
2012 – After a 4-year stint with other companies in VP roles in between, he again joined Infosys, and this time he joined for good.
In October 2015, he assumed the position of Deputy CFO for the Infosys Group, where he currently supervises various aspects of the finance domain. His duties include overseeing functions such as investor relations, business finance, corporate finance, treasury, and taxation.
The aftermath
Infosys experienced a significant decline in shares following CFO Nilanjan Roy’s resignation from the top post.
The stock dropped by 1% after Nilanjan’s departure, with Infosys shares falling by over 1.40% during the intra-day trade.
Investor sentiment was negatively impacted by the CFO’s resignation. However, the stock recovered from its initial lows and ultimately ended with reductions of up to 0.84%.
